Empire State Realty Trust (NYSE:ESRT) Given New $5.75 Price Target at Citigroup

Empire State Realty Trust (NYSE:ESRT) had its price objective dropped by equities research analysts at Citigroup from $7.00 to $5.75 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. Citigroup’s price objective points to a potential upside of 5.39% from the stock’s current price.

Several other brokerages have also recently issued reports on ESRT. Wells Fargo & Company decreased their price objective on Empire State Realty Trust from $6.80 to $6.30 and set an “underweight” rating on the stock in a report on Monday, March 2nd. Evercore set a $7.00 price objective on Empire State Realty Trust in a report on Wednesday, February 18th. Finally, Weiss Ratings cut Empire State Realty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, March 4th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Empire State Realty Trust presently has a consensus rating of “Sell” and an average target price of $6.35.

Empire State Realty Trust Stock Performance

Shares of ESRT stock traded up $0.12 during trading hours on Wednesday, reaching $5.46. 1,435,994 shares of the company traded hands, compared to its average volume of 1,632,902. The firm has a 50-day moving average price of $5.63 and a 200 day moving average price of $6.50. The company has a market cap of $934.29 million, a P/E ratio of 20.98 and a beta of 1.38. Empire State Realty Trust has a 12-month low of $4.87 and a 12-month high of $8.76. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.67 and a quick ratio of 1.67.

Empire State Realty Trust (NYSE:ESRT) last issued its earnings results on Tuesday, February 17th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter. The company had revenue of $199.22 million for the quarter. Empire State Realty Trust had a return on equity of 2.59% and a net margin of 6.06%.Empire State Realty Trust has set its FY 2026 guidance at 0.850-0.890 EPS. As a group, sell-side analysts predict that Empire State Realty Trust will post 0.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Empire State Realty Trust

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wolverine Asset Management LLC grew its position in shares of Empire State Realty Trust by 73.1% during the 3rd quarter. Wolverine Asset Management LLC now owns 1,561,474 shares of the real estate investment trust’s stock worth $11,961,000 after buying an additional 659,543 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new position in shares of Empire State Realty Trust during the 3rd quarter worth $3,983,000. Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of Empire State Realty Trust by 131.2% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,118,081 shares of the real estate investment trust’s stock worth $8,564,000 after buying an additional 634,543 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Empire State Realty Trust by 59.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,813,895 shares of the real estate investment trust’s stock worth $29,214,000 after buying an additional 1,424,066 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of Empire State Realty Trust by 596.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,036,250 shares of the real estate investment trust’s stock worth $7,938,000 after buying an additional 887,375 shares in the last quarter. Institutional investors own 67.10% of the company’s stock.

Empire State Realty Trust Company Profile

Empire State Realty Trust, Inc is a publicly traded real estate investment trust (REIT) focused on the ownership, management and operation of office and retail properties. The company’s portfolio features the iconic Empire State Building in Midtown Manhattan, alongside a diversified collection of commercial assets situated throughout Manhattan, Brooklyn and select markets in Upstate New York. By offering premium office space and street-level retail, Empire State Realty Trust positions itself as a landlord of choice for corporate tenants, retailers and experiential brands seeking high-profile addresses.

Established through a spin-off of assets in early 2013, Empire State Realty Trust consolidated a mix of landmark and Class A properties, creating scale in one of the world’s most competitive real estate markets.